Chung Lee Finance is a privately held, non-bank lender based primarily in Los Angeles, California, that specializes in providing short-term, asset-based loans to businesses, real estate investors, and developers. They typically bridge financing gaps for those who might not qualify for traditional bank loans or require a more rapid funding solution. Their expertise lies in offering flexible, tailored financing options secured by real estate and other tangible assets. A core focus of Chung Lee Finance is speed and efficiency. They understand that in many real estate transactions and business opportunities, timing is crucial. Unlike traditional lenders with lengthy approval processes, Chung Lee Finance prides itself on its ability to quickly evaluate opportunities, underwrite loans, and disburse funds, often within a matter of days. This agility makes them a valuable resource for borrowers facing time-sensitive deadlines or unique challenges. Their loan products generally fall under the umbrella of “hard money” loans, also known as bridge loans. These loans are characterized by higher interest rates and shorter terms compared to conventional mortgages. The higher rates reflect the increased risk associated with the speed and flexibility of the financing. Loan terms are typically between six months and two years, allowing borrowers to address immediate financing needs while they pursue longer-term solutions, such as securing traditional bank financing or selling the underlying asset. The types of projects Chung Lee Finance typically funds include fix-and-flip projects (where investors purchase properties, renovate them, and then resell them for a profit), ground-up construction projects (providing financing for the construction of new buildings), commercial real estate acquisitions (supporting the purchase of office buildings, retail spaces, and other commercial properties), and refinancing existing debt. They often work with borrowers who have credit challenges, lack extensive operating history, or have unconventional property types that traditional lenders are hesitant to finance. While Chung Lee Finance provides valuable financing options for many borrowers, it is crucial to understand the risks associated with hard money loans. The higher interest rates and short repayment terms necessitate careful planning and execution. Borrowers need to have a clear exit strategy, such as a firm commitment for refinancing or a sale of the property, to ensure they can repay the loan within the agreed-upon timeframe. Failure to do so could lead to foreclosure and the loss of the underlying asset. In summary, Chung Lee Finance fills a critical niche in the lending market by providing rapid, flexible, and asset-based financing for businesses and real estate investors. Their speed and willingness to consider unconventional deals make them a valuable resource for those who need quick access to capital. However, borrowers should carefully evaluate their ability to repay the loan within the short timeframe and understand the higher costs associated with this type of financing. Due diligence and a well-defined exit strategy are essential for successful utilization of Chung Lee Finance’s services.